Mihai_Iacob

GbpUsd will probably break support

Short
Mihai_Iacob Updated   
FX:GBPUSD   British Pound / U.S. Dollar
The break above important 1.3 back in July proved to be a false one and after a high at 1.3150, GbpUsd dropped hard and the reversal from 1.28 support that followed was in fact a correction finalized with a very strong bearish engulfing last week, that not only engulfs the previous 2 rising candles, but also marks a new low.
Friday's and yesterday's rises are anemical and the pair is now sitting on a technically very important 1.28.
A break down at this moment looks imminent and in such an instance, 1.25 could become in focus.
Only a break above 1.3 would change this grossly bearish scenario.

Comment:
Gbpusd broke support as expected

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.